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Americans Favor Homeownership as an Investment -Emerald Coast Real Estate

Americans Favor Homeownership as an Investment

Real Estate along the Emerald Coast.

Given the option, most Americans would prefer to invest in homeownership than in stocks.  The Emerald Coast with its white sandy beaches and emerald waters is the perfect location for your investment!

Our brokerage has worked with countless investors in purchasing property along the Emerald Coast.  It is a passion for us to share our love of the Emerald Coast and why it is a prime investment market.

“Home is where the heart is.”

 

We hope you took a brief moment to watch this short video on as to why Americans favor homeownership as an investment.  

If you would like to discuss further the real estate market along the Emerald Coast, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in Destin, FL.  Our mission is to help you “find your piece of paradise” along the Emerald Coast.  And with access and insight on all of the best real estate along the Emerald Coast, we can help you make your real estate needs happen.

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Experts Say Home Prices Will Continue to Appreciate – Emerald Coast Real Estate

Home Prices Will Continue to Appreciate

Experts Say Home Prices Will Continue to Appreciate.

Last week we talked about Panama City Beach, and Emerald Coast, housing market.  We highlighted how competitive it is, home buyers have to face the possibility of increased interest rates.  This week we are continuing the discussion regarding the challenges home buyers face in our competitive housing market with the expectation that home prices will continue to appreciate.      

Experts Say Home Prices Will Continue to Appreciate

It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. In fact, Google reports that the search for “When is the housing market going to crash?” has actually spiked 2450% over the past month.

In addition, Jim Dalrymple II of Inman News notes:

“One of the most noteworthy things that came up in Inman’s conversations with agents was that every single one said they’ve had conversations with clients about whether or not the market is heading into a bubble.”

To alleviate some of these concerns, let’s look at what several financial analysts are saying about the current residential real estate market. Within the last thirty days, four of the major financial services giants came to the same conclusion: the housing market is strong, and price appreciation will continue. Here are their statements on the issue:

Goldman Sachs’ Research Note on Housing:

“Strong demand for housing looks sustainable. Even before the pandemic, demographic tailwinds and historically-low mortgage rates had pushed demand to high levels. … consumer surveys indicate that household buying intentions are now the highest in 20 years. … As a result, the model projects double-digit price gains both this year and next.”

Joe Seydl, Senior Markets EconomistJ.P.Morgan:

“Homebuyers—interest rates are still historically low, though they are inching up. Housing prices have spiked during the last six-to-nine months, but we don’t expect them to fall soon, and we believe they are more likely to keep rising. If you are looking to purchase a new home, conditions now may be better than 12 months hence.”

Morgan Stanley, Thoughts on the Market Podcast:

“Unlike 15 years ago, the euphoria in today’s home prices comes down to the simple logic of supply and demand. And we at Morgan Stanley conclude that this time the sector is on a sustainably, sturdy foundation . . . . This robust demand and highly challenged supply, along with tight mortgage lending standards, may continue to bode well for home prices. Higher interest rates and post pandemic moves could likely slow the pace of appreciation, but the upward trajectory remains very much on course.”

Merrill Lynch’s Capital Market Outlook:

“There are reasons to believe that this is likely to be an unusually long and strong housing expansion. Demand is very strong because the biggest demographic cohort in history is moving through the household-formation and peak home-buying stages of its life cycle. Coronavirus-related preference changes have also sharply boosted home buying demand. At the same time, supply is unusually tight, with available homes for sale at record-low levels. Double-digit price gains are rationing the supply.”

Bottom Line

If you’re concerned about making the decision to buy or sell right now, let’s connect to discuss what’s happening in our local market.

Do you have further questions regarding making a winning offer?  To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to answer your questions and help you find your piece of paradise.

 

 

 

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Are Interest Rates Expected to Rise Over the Next Year? – Emerald Coast Real Estate

Interest Rates

Will Interest Rates Go Up?

Panama City Beach, as well as throughout the Emerald Coast, the housing market is very competitive.  The question as to whether interest rates will go up later this year adds to the sense of urgency home buyers are experiencing as they search for their perfect beach home.  Right now, sellers are in the driver’s seat, and buyers are having a tough time keeping up with the competitive market.  We are experiencing multiple offers the same day a home hits the market.  Many offers have escalation clauses and the demands for the highest and best offer.     

Are Interest Rates Expected to Rise Over the Next Year?

Are interest rates going to go up, if so when?  So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say.

Danielle Hale, Chief Economistrealtor.com:

Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .”

Lawrence Yun, Chief EconomistNational Association of Realtors (NAR):

In 2021, I think rates will be similar or modestly higher . . . mortgage rates will continue to be historically favorable.”

Freddie Mac:

We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.”

Below are the most recent mortgage rate forecasts from four top authorities – Freddie MacFannie Mae, the Mortgage Bankers Association (MBA), and NAR:Are Interest Rates Expected to Rise Over the Next Year? | MyKCM

Bottom Line

If you’re planning to buy a home, purchasing before mortgage interest rates rise may help you save significantly over the life of your home loan.

 

Do you have further questions regarding making a winning offer?  To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to answer your questions and help you find your piece of paradise.

 

 

 

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Is It Time To Sell Your Beach Home? – Emerald Coast Real Estate

Time To Sell

Is it Time to Sell Your Beach Home?

Is it time to sell your beach home in Panama City Beach or along the Emerald Coast?  Well if you have been thinking about selling, now is the time!  There are a lot of active buyers competing for a relatively low number of available homes and condos.  Thus sellers are in the driver’s seat in the very HOT Panama City Beach real estate market.  

Why This Is a Great Year to Sell Your Vacation Home

Some are asking why is it a good time to sell?  As vaccines are administered and travel resumes, many across the United States are beginning to plan for those long-awaited vacations that they missed out on over the past year.  Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:

Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.”

It’s not surprising that there’s an increase in demand for vacation homes in the coveted Panama City Beach area.  Where the beaches are beautiful, sunshine is abundant and the Emerald Coast is calming.

Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round.  The NAHB explains:

“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area.  More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.”

Bottom Line

The demand for  Panam City Beach vacation homes has increased and will continue to rise as we head into summer. If you own a house along the Emerald Coast and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Let’s connect to discuss your opportunities in our local market.

Do you have further questions regarding making a winning offer?  To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to answer your questions and help you find your piece of paradise.

 

 

 

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Real Estate Myth Buster – Panama City Beach Real Estate

real estate myth buster

Real Estate Myth Buster, Panama City Beach, and along the Emerald Coast.

Let’s talk about the five common misconceptions when thinking about purchasing a home in today’s competitive Panama City Beach real estate market.

REAL ESTATE MYTH BUSTER IN THE PANAMA CITY BEACH REAL ESTATE MARKET.

What do I mean when I speak about Real Estate Myth Buster in today’s Panama City Beach real estate market? 

For quite some time, the landscape of the real estate in Panama City Beach was quite different.  We had substantial inventory, and it was more of a buyer’s market.  Meaning buyers did not necessarily have to worry about competing offers; as long as the offer was within the market expectation, there was a high probability that the unit they put an offer on would go under contract.  

Times have changed!

Now the buyer has to be ready to act quickly.

Sellers have to be informed, so they price their home to maximize the price point.

These real estate myth busters will help you achieve your real estate goals.

Myth #1.  It’s better to get pre-approved after you find the perfect home to buy.

REALITY:  You should get pre-approved before you begin your home search.  That way, you will know your budget and act quickly when ready to make an offer.  Also, that will strengthen your offer to sellers.

Myth #2.  Always start with your lowest offer when buying a home.

REALITY:  In a competitive market like we have today, you may not get a second chance.

Myth #3.  It’s better to price your house on the high side when you are selling.

REALITY:  A house that is priced competitively will likely sell faster and attract multiple offers.

Myth #4.  Renovating your house will definitely net you more money when you sell.

REALITY:  Some renovations may be necessary, but not all of them.  Your trusted agent can advise you on what is important to fix before selling and what is not.

Myth #5.  It is safe to skip the home inspection if the house looks good.

REALITY:  You should not skip the inspection.  It could uncover hidden problems that might cost you down the line.

 

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home.  An experienced agent is critical in helping buyers and sellers in the Panama City Beach real estate market.  Let’s connect to make sure you rise to the top along the way.

Do you have further questions regarding making a winning offer?  To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to answer your questions and help you find your piece of paradise.

 

 

 

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Diamond In The Rough Edgewater Golf Villa Renovation – Panama City Beach Real Estate

Edgewater Golf Villa Renovation

Real estate along the Emerald Coast.

Diamond in the rough, Edgewater Golf Villa renovation.  The Edgewater Beach Resort is the only true resort in Panama City Beach.  A truly all-inclusive resort with a golf course, tennis courts, pickleball, shuffleboard, and more.  And of course pools, including a lagoon pool oceanfront restaurant….and of course the sugar sands of the Gulf of Mexico!

Some of our agents have been part of the journey of helping with the purchase, and renovation of the charming golf villas, bringing the 1980’s to 2021.  Knowing the ins and outs of the market and the renovation process our team can help you.

“Home is where the heart is.”

 

We hope you took a brief moment to watch this short video on the renovation of an Edgewater Golf Villa, located in Edgewater Beach Resort.  

If you would like to discuss further the value of your home in today’s market, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in Destin, FL.  Our mission is to help you “find your piece of paradise” along the Emerald Coast.  And with access and insight on all of the best real estate along the Emerald Coast, we can help you make your real estate needs happen.

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How To Make A Winning Offer – Emerald Coast Real Estate

Winning Offer

The real estate market along the Emerald Coast currently favor’s a seller’s market.

There are a lot of active buyers competing for a relatively low number of available homes and condos.  As a result, it is essential to understand how to make a confident, competitive, and winning offer on your dream beach home.

Here are five tips for success in this critical stage of the home buying process along the Emerald Coast.

How to Make a Winning Offer on a Home

Making a winning offer is essential if you want to purchase your beach home along the Emerald Coast.  We are seeing new properties hitting the market receiving multiple same-day offers, resulting in bidding wars.  So let’s get down to it…how do you make the WINNING OFFER?

1. Listen to Your Real Estate Advisor

An article from Freddie Mac gives direction on making an offer on a home. From the start, it emphasizes how trusted professionals can help you stay focused on the most important things, especially at times when this process can get emotional for buyers:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

A LOCAL real estate professional should be the expert guide you lean on for advice when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. Doing so make it clear to sellers you’re a serious and qualified buyer, and it can give you a competitive edge in a bidding war.

3. Be Prepared to Move Quickly

According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average property sold today receives 3.7 offers and is on the market for just 21 days. These are both results of today’s competitive market, showing how important it is to stay agile and alert in your search. As soon as you find the right home for your needs, be prepared to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer.Don’t make an offer that will be tossed out as soon as it’s received.  The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Stay Flexible in Negotiations

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. You can strengthen your position with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Freddie Mac explains that there are, however, certain contingencies you don’t want to forego:

Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way.

Do you have further questions regarding making a winning offer?  To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to answer your questions and help you find your piece of paradise.

 

 

 

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Put Your Equity To Work – Emerald Coast Real Estate

PUT YOUR EQUITY TO WORK!

Real estate along the Emerald Coast.

Believe it or not, but you may have more home equity than you think!

Helping to drive equity, supply, and demand.   Inventory is low, and buyers are actively in the market.

If you have been thinking about what it would be like to live along the Emerald Coast, reach out to us!  We would love to share our “living the dream” beach living lifestyle!

“Home is where the heart is.”

 

We hope you took a brief moment to watch this short video for more insight on increased equity.  

If you would like to discuss further the value of your home in today’s market, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in Destin, FL.  Our mission is to help you “find your piece of paradise” along the Emerald Coast.  And with access and insight on all of the best real estate along the Emerald Coast, we can help you make your real estate needs happen.

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Appraisals Versus Inspection – Emerald Coast Real Estate

Appraisal Versus Inspection

When you apply for a mortgage, an unbiased appraisal (required by the lender) is the best way to confirm the home’s value based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth.

Appraisal Versus Inspection

What’s the Difference between an Appraisal and a Home Inspection?

Many new buyers ask, what is the difference between an appraisal versus an inspection. If you’re planning to buy a home along the Emerald Coast, an appraisal is an essential step in the process. It is a professional evaluation of the market value of the home you’d like to buy. In most cases, the lender will order an appraisal to confirm or verify the home’s value before lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both critical when buying a home.

Home Appraisal

The National Association of Realtors (NAR) explains:

“A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”

When you apply for a mortgage, an unbiased appraisal (required by the lender) is the best way to confirm the home’s value based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth.

This is especially critical in today’s sellers’ market, where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more.

However, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your trusted real estate professional will help you navigate any additional negotiations in the buying process.

Home Inspection

Here’s the key difference between an appraisal and an inspection. MSN explains:

In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.”

The home inspection is a way to determine the current condition and safety of the home before you finalize the sale. The inspection report addresses if anything is questionable the process. Some examples of issues that could arise could be the age of the roof, the state of the HVAC system, or just about anything else. You, as a buyer, have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your real estate agent is a key expert to help you through this part of the process.

Bottom Line

The appraisal and the inspection are critical steps when buying a home, and you don’t need to manage them by yourself.  

Do you have further questions regarding the appraisal process and the home inspection process?  To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to answer your questions and help you find your piece of paradise.

 

 

 

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SOLD Origin At Seahaven 908 – Life’s A Beach Real Estate, Agent Johnna Bass

SOLD – Origin At Seahaven,

unit 908

Life’s A Beach Real Estate, helping buyers and sellers with their real estate needs.

Have you have been thinking about buying or selling real estate along the Emerald Coast?  Now is the time.  

Remember, inventory is low, and buyers are actively in the market.

“Helping you find your piece of paradise.”

 

We hope you took a brief moment to watch this short video of the interior of Origin at Seahaven 908.

 Life’s A Beach Real Estate team is here to help you with your real estate needs whether buying or selling.

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in Destin, FL.  Our mission is to help you “find your piece of paradise” along the Emerald Coast.  And with access and insight on all of the best real estate along the Emerald Coast, we can help you make your real estate needs happen.